Contact Energy Boss Says Risk of New Zealand Running Out of Power This Winter Eases

New Zealand-specific electricity supply outlook improves due to higher renewable generation (solar, geothermal) and full hydro lakes, reducing near-term scarcity risk. However, long-term gas supply decline prompts consideration of a $1 billion LNG import terminal, which would affect domestic gas prices and power generation costs. Contact Energy's CEO signals that retail power price hikes will be capped to inflation, potentially squeezing generator margins if wholesale costs rise. The LNG investment decision is a key capex cycle signal for New Zealand's energy infrastructure.